Does Knoxville have typical suburbs? What's a good area for a single guy to buy house? (Farragut: sale, foreclosures)

[creeksitter]

I'd like to challenge the assertion that a home with one bathroom is a bad investment. I'm glad we have a realtor on board who can tell us the days on market for 1 ba homes compared to 1.5 or 2 ba homes.

Did I not read somewhere that single person households are the fastest growing market segment?

Of course that extra bathroom is valuable, but probably more valuable to a family than a single person. Why pay for an amenity you don't need? Especially don't understand passing up a house that you truly love. If it has that much unique charm someone else will appreciate it when the time comes to sell.

Now I can see the shared driveway being a dealbreaker for a lot of people. But most of us single people are quite content with one bath.

[JMT]

Originally Posted by creeksitter

I'd like to challenge the assertion that a home with one bathroom is a bad investment. I'm glad we have a realtor on board who can tell us the days on market for 1 ba homes compared to 1.5 or 2 ba homes.

Did I not read somewhere that single person households are the fastest growing market segment?

Of course that extra bathroom is valuable, but probably more valuable to a family than a single person. Why pay for an amenity you don't need? Especially don't understand passing up a house that you truly love. If it has that much unique charm someone else will appreciate it when the time comes to sell.

Now I can see the shared driveway being a dealbreaker for a lot of people. But most of us single people are quite content with one bath.

I agree. In fact, having lived in Europe where the vast majority of homes have only one bathroom, it's really not a big deal to me. It's certainly not a deal-breaker for a single guy like me. My closest friends here live in an old home in Fountain City. They're a family of 5 and live in a craftsman bungalow with 3 bedrooms but only one bath. It doesn't bother them in the slightest.

[hiknapster]

Originally Posted by creeksitter

I'd like to challenge the assertion that a home with one bathroom is a bad investment. I'm glad we have a realtor on board who can tell us the days on market for 1 ba homes compared to 1.5 or 2 ba homes.

Did I not read somewhere that single person households are the fastest growing market segment?

Of course that extra bathroom is valuable, but probably more valuable to a family than a single person. Why pay for an amenity you don't need? Especially don't understand passing up a house that you truly love. If it has that much unique charm someone else will appreciate it when the time comes to sell.

Now I can see the shared driveway being a dealbreaker for a lot of people. But most of us single people are quite content with one bath.

Yeah. I guess I better shut my mouth because I don't know what I am talking about.

[hiknapster]

Originally Posted by hiknapster

Yeah. I guess I better shut my mouth because I don't know what I am talking about.

I woke up at 1 a.m. and read this and then went back to sleep.

You know what, I am not going to be intimidated because I am not a realtor.

I don't know how long a one-bathroom would be on the market. Never thought about it. But I bet you'll sell a one-bathroom will sell for less than you could get if it was a two-bathroom.

If you prefer a one-bathroom, then great. But most people want at least two. In fact, I have one bathroom and another that does not have a shower. If I ever sell, I might install one before I do so.

[creeksitter]

Of course a 1 bathroom is likely to sell for less than a 2 bathroom. But that doesn't make the 1 bath home a bad investment.

Upon reflection I realized that a 4 bedroom house probably warrants a 2nd bath, possibly a 3 br if it is big and has a family room, etc.

Just wanted to point out that there is a huge market segment that doesn't have the same housing requirements as you.

[hiknapster]

Originally Posted by creeksitter

Of course a 1 bathroom is likely to sell for less than a 2 bathroom. But that doesn't make the 1 bath home a bad investment.

Upon reflection I realized that a 4 bedroom house probably warrants a 2nd bath, possibly a 3 br if it is big and has a family room, etc.

Just wanted to point out that there is a huge market segment that doesn't have the same housing requirements as you.

Once again, it's not my requirement. I could care less if I have more than one bathroom. Less to clean.

But I wanted to make sure that if I ever had to sell I would not be left holding the bag. You are entitled to think that a one bathroom is a great investment.

[William Sold]

One bathroom homes are not a bad investment, nor any home, as long as it's the home you feel comfortable in, fits your needs, and you pay the right price. However, the point napster is trying to make I believe, is that a three bedroom home with only one bathroom drastically limits your marketing ability on the home. The value perhaps not so much, as those factors are a conglomiration of different aspects. Single family homes are on the rise, and one bathroom homes are sufficient for those needs, though a three bedroom home with one bath reduces a large portion of the current market, families that truly need all three bedrooms, and two baths. Many families will immediately walk out of a showing, or refuse to tour a house because of the limited bath space per family size. So, in my opinion, it's not exactly your investment, but your resale capabilities that are affected by taking on a one bathroom home. But if you like the home and feel it's self sufficient, that's the first step. Reselling is a diferent animal to consider, and a factor for some when buying, not so much for others. My two cents...

[William Sold]

Running some numbers, and this is just for Fountain City and North Knoxville areas, the average DOM for one bathrrom homes sold since 1/1/08 is 89. The average DOM for two bathroom homes is 129. So, one could make an argument that one bathroom homes sold quicker that two. However, this is not comparing apples to apples. The average prices for these homes,average square footage, and average age of homes was askewed. Being much more affordable, of course the less expensive of the two can be expected to move quicker, as the affordabilty, financing, and less competition are a key factor. The sheer number of choices of homes with two bathrooms, larger square footage, and higher price range will drive buyers to search longer and harder. For those that can afford a limited price range and only a certain number of homes on the market exist, a quicker decision can be made. 89 and 129 DOM may seem low given what everyone hears about the market lately, but these are only numbers for sold homes. I did not run DOM for listed homes, as they are irrelevant, given they have not sold yet and don't represent an acurate portrayal for comparison. So, one could argue, but apples and oranges taste very different...

[hiknapster]

Wow. You are very diplomatic. If this real estate gig doesn't work out you can always run for political office.

Actually, that was incredible information. Nice job!

[Beretta]

Remembering back to when I was single I can remember still wanting a second bath ~ at least a half bath ~ as I was terrified that my one and only toilet would tear up and I would be left with having to find a fix it person quickly. I figured that with my luck my only toilet would tear up on a long holiday weekend or something.

I realize that a lot of people live just fine with one toilet but I am just sharing another one of my paranoia's. The men in white coats should be along anytime now.....